I am not the biggest fan of TreasuryDirect. Sure, technically it lets you buy Treasury securities directly from the U.S. government without paying an ETF expense ratio, but using the platform often feels like stepping back into the early 2000s internet. The user interface is clunky, navigation is awkward, and basic account management tasks feel ... Pension Funds Pile Billions Into This Treasury ETF Every Quarter. Retail Retirees Barely Know It Exists.